In the event of bankruptcy, the control of a firm passes from the equity holders to the
Question:
In the event of bankruptcy, the control of a firm passes from the equity holders to the debt holders.
Describe differences in the preferences of the equity holders and debt holders and how decisions following bankruptcy proceedings are likely to change.
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Related Book For 
Financial Markets And Corporate Strategy
ISBN: 9780077119027
1st Edition
Authors: David Hillier, Mark Grinblatt, Sheridan Titman
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